If you’re involved in property for any length of time, things will go wrong – and as positive as we are about property, we’ve both made mistakes and had bad experiences.
As we spend a lot of time talking about the advantages of property investment, it’s only right that we give some attention to the downside too. So this week, we’re sharing some of our more painful personal errors. Including:
- Off-plan deals that lead to lengthly legal wranglings
- Deals that collapse
- Tenants who report “ghosts in the walls” (?)
- Deals that don’t happen at all
- The inevitable fallout of breaking your own rules
- And more that are too painful to type
(Related episode: How Rob B lost £40,000 on one deal.)
It’s one of our less comfortable half-hours, but there’s a positive message at the end of it. And be sure to check out next week’s episode, which is geared towards making sure you don’t end up with a podcast’s worth of your own mistakes like we have…
Resource of the week
The whole RMP team has moved over to using Chromebooks and Chromeboxes – which are basically very fast, simple and cheap computers that run on a Google operating system. They don’t do as much as pricier machines, but the advantage is that there’s less to go wrong – so you can spend more time working and less time troubleshooting.
News this week
We’ve talked about the new “Right to Rent” immigration checks before, and as of 1st February 2016 they’re now compulsory across the whole of England for any new tenancies. Hurray!
It’s not looking good for the chances of landlords complying with this legislation, given that it was also revealed this week that 300,000 landlords still aren’t using deposit protection schemes. Yikes.
It’s meetup day!
We’ve got 19 meetups taking place across the UK (and the world!) tonight – so you can get along and commiserate about your own property mistakes with people who’ve been there too!
All Property Hub Meetups are totally free to attend – all you need to do is reserve your place.
Join the conversation
What’s your most painful property mistake? Or have you had any close calls?
We’d love to know, so join the discussion in The Property Hub!
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